Generac Holdings, Inc. Class Action Lawsuit - GNRC

The complaint alleges that on August 2, 2023, the Company held its Q2 2023 earnings call. During that call, President and CEO Aaron P. Jagfeld revealed lackluster quarterly results, including a $1 billion sales decrease year-over-year and that residential sales decreased 44%. When explaining that decline, Jagfeld contradicted his May statements discounting macroeconomic trends. He said, “[the Company] underperformed our expectations as a result of the shift in consumer spending patterns,” thus admitting the importance of inflation on consumer spending. Consequently, Jagfeld advised investors, “[t]his weaker than previously expected demand environment is expected to persist in the second half of the year, also contributing to our lower outlooked for residential product sales.” Generac’s share price dropped swiftly in the day after the earnings call. On August 1, 2023 shares closed to $153.38; by the close on August 3, 2023 shares plummeted to $110.77.

In order to be eligible to join the GNRC class action lawsuit, you must have incurred a loss on shares of Generac purchased during the class period listed above.

If you suffered a loss in Generac during the relevant time frame or pursuant to the relevant offering(s), you have until January 22, 2024 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.